The Executive Governor of Osun State, Adegboyega Oyetola, has signed the 2021 appropriation bill tagged “Budget of Providence” and worth N109billion into law on Tuesday, 22 December 2020.
This is according to a disclosure by the Governor through his verified Twitter handle and seen by Nairametrics.
Nairametrics gathered that N59.2 billion (54%) of the appropriation bill is earmarked for capital expenditure, while N50.6 billion (46%) is budgeted for recurrent expenditure and creative income strategies.
Recall that Governor Oyetola had earlier presented the 2021 Appropriation Bill to the State House of Assembly on November 10, 2020 and 52 days later, the same bill has been assented by the Governor.
He expressed optimism over the performance of the budget, stressing that the 2021 budget would perform better than its 2020 counterpart, which recorded more than 90% despite the impact of COVID-19 and EndSARS protests.
What they are saying
A part of the verified Tweet reads:
- “This afternoon, I signed into Law the State of Osun 2021 ‘Budget of Providence.’ With 54% capital & 46% recurrent expenditure allocations & our creative income strategies, we’re on the path of delivering more on our Development Agenda, which is our pact with the people of Osun. I urge all Govt. officials to prepare to work harder as we resolve to efficiently implement the 2021 Budget, which is intended to further deliver prosperity to our people, provide jobs & opportunities for our youths, deliver more infrastructure & put Osun on a sound footing.
- “I thank @SpeakerOwoeye & other Honourable members of the House for the diligent & speedy passage of the Budget. By this act, the Assembly has once again proved itself as a people-oriented and development-conscious House.’’
Why it matters
The executive assent is the last stage in law-making, thus making the recent action by the Governor of paramount importance. Furthermore, the recent allocation indicates that the state is on the path of delivering its Development Agenda in 2021 with 54 per cent for capital and 46 per cent for recurrent expenditure allocations respectively.